Free Workshops Address Bank Owned Property Listing Problems in Indy

The state of Indiana is addressing bank owned property listing and foreclosure problems by holding a series of talks for free. These events are meant to provide homeowners with advice on dealing with foreclosures and they also aim to educate residents on the nature of the housing market crisis.

The latest foreclosed homes by state data showed Indiana experiencing an increase in foreclosures despite the improved condition of the economy. The data also showed that for every 536 households in the state, one has received a notice of foreclosure for the month of March 2010.

Housing market data indicated that southern counties are faring better than the rest of the state, but foreclosure listings, including fixer upper home listings and bank owned properties; continue to rise in numbers as shown by state records for the first half of 2010.

In an effort to stymie the pace of foreclosure, free workshops will be held all around the state. The 11 workshops will address issues related to bank owned property listing and distress properties and will also provide advice to state residents on how to deal with foreclosures. The events will be held in Workone facilities.

Aside from the workshops, state officials have also launched a program which utilizes the court system of Indiana to battle foreclosure expansion. These efforts were launched following the less-than-successful implementation of a state law in 2009 which provided homeowners facing foreclosures with the right to have a settlement conference with their lenders. However, as of the end of 2009, less than two percent of eligible homeowners have taken advantage of this state law.

The workshops and other programs designed to control rising foreclosure rates will be implemented in the whole state of Indiana. However, implementation of these programs will be done gradually, with authorities using certain counties as springboard before launching a state-wide coverage.

In the case of the workshops, the events will be held across the whole state, with Southern Indiana being the last stop for these conferences. State authorities have stated that although southern counties are performing better than other areas of the state, southern homeowners would still experience the workshops and would have a chance to discuss problems related to bank owned property listing and other foreclosure concerns.

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